INTERNATIONAL FACTFILE Iceland
MCV takes a look at why the unstable Icelandic market is pushing up the price of games
In association with Wholesaler and distributor of video games, consoles and accessories
THE FACTS Population: 321,857 Currency: Icelandic Króna GDP (Per Capita): $43,088 Capital City: Reykjavík Languages: Icelandic
TOP DEVELOPERS CCP, Dexoris, Gogogic, MindGames, On The Rocks Productions, Plain Vanilla Games, Fancy Pants Global
MAIN DISTRIBUTORS Sena, Myndform, Samfilm, Ormsson
KEY RETAILERS Elko, BT, Gamestodin, Skifan, Hagkaup
PUBLISHERS WITH A LOCAL OFFICE
No publishers with local office, all business done through distributors
ABOUT THE MARKET
ICELAND MAY only have a population of only around 320,000, but with just under two-thirds of it living in the capital city of Reykjavík, the retail landscape is remarkably concentrated. The range of retailers is not a million miles away from the UK scene, with retail consisting of both large and more independent chains of stores.
The type of games that sell well in the UK also enjoy strong performances in Iceland but financial instability in the region has pushed up the price of games. This means consumers are far more selective as to where they invest their money.
“Iceland has a very unstable currency, which creates fluctuations in game prices and actually in prices on all imported goods. Now the currency is in its weakest state, which makes games so expensive that it prices a lot of games out of the market,” says Ólafur Þór Jóelsson VP of distributor Sena’s computer games division.
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Consumers are not willing to take chances on new IPs in this high-priced environment.
“ Ólafur Þór Jóelsson, Sena
“Also, VAT is very high in Iceland at 25.5 per cent. It is therefore only triple-A titles that actually sell in Iceland. Consumers are not willing to take chances on new IPs in this high-priced environment.” The development community in Iceland is much smaller than in the other Nordic nations but the region still houses some top development firms including Eve Onlinestudio CCP and social games firm Gogogic. A series of mobile studios are also based in the region including Plain Vanilla and MindGames. The console market is also still growing, with PlayStation remaining the biggest driver.
“Iceland has a very sound
PlayStation market and opportunities on peripherals and games for PlayStation 3 is where the biggest growth is right now,” adds Jóelsson. “Also, there are now growth opportunities in digital distribution with a local twist.” To find out more about the Iceland video games market, head to
MCVNordic.com.
www.mcvuk.com
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